Marketing Essentials: Marketing Concepts, Trends, and M&S Analysis

This report provides a comprehensive overview of marketing essentials, focusing on key concepts, current trends, and their practical application. It begins by defining marketing and exploring its core components, emphasizing the importance of understanding customer needs and satisfaction. The report then delves into various marketing concepts such as product, production, selling, and marketing concepts, along with emerging trends like relationship, industrial, and societal marketing. A significant portion of the report analyzes the marketing process, including situation analysis, strategy development (segmentation, targeting, and positioning), marketing mix decisions (product, price, place, and promotion), and implementation and control. The report further examines the key responsibilities of a marketing manager within the context of Mark and Spencer, highlighting the influence of marketing on other functional departments such as finance, production, R&D, sales, and HR. The importance of marketing in business success, emphasizing its role in information dissemination, driving sales, building relationships, and fostering healthy competition is also discussed. This assignment is a valuable resource for students studying marketing, providing insights into real-world applications and strategies.

Marketing essential

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Concept of marketing and its trends. ..........................................................................................1
Overview the different market process.......................................................................................2
Key responsibility of the manager of Mark ans Spencer............................................................3
How marketing influences and interrelates with other functional departments..........................4
Importance of marketing role in context of Mark and Spencer..................................................5
Importance of having Effective interrelationships between different functional departments.. .6
CONCLUSION................................................................................................................................6
REFERENCES ...............................................................................................................................7

INTRODUCTION
The term marketing refers to the management of exchange relations. Market is generally
use to frame, keep and satisfy the customers as they are concentrating of activities. This is the
major and core components of business managements. Generally marketing the process of
promoting business products and services to target market or customers. A manager is the person
who are able and have capacity to arranges the elements of business and make them run
smoothly they has responsibility for controlling and administrating organisation and employees.
The Mark and Spencer is British multi national industry that is a retailer and had headquarter in
London. This assignment has covers the roles of managers with concept and over of market and
process (Kennedy and Parsons 2014). It also show some influences of marketing on others
departments. Along with importance of marketing.
TASK
Concept of marketing and its trends.
The concept of marketing is coming with a clear goal which takes account a cost
efficiency and effectiveness, social responsibility and sustainability in a particular market.
Market concept is the process that works in order to gives satisfaction to company's objective,
where organisation are looking out for that tool who are able to anticipates the wish and wants of
customers and satisfy them more effectively them competitor.
Marketing is the major challenge in current condition of the market to capture the
attentions of the customers. Simply a marketing is the process with having some steps as
promoting, creating and delivering product in market to target customers. It is an action took to
keep attention to business offering and providing. As is can be physical product for sale.
Common example of marketing at organisation is involves television advertisements, billboards
on the side of roads and advertisement in magazine.
The marketing concept has four major parts as product , product, selling, marketing concept,
description as:
product concept: This concept holds that customers will took favour the goods which
are offers quality with innovation features and performance. Here marketing plan are concern in
making continuous progress in products (Lane 2016).
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Production concept: The idea of this concept is consumer will go with those products
who are available and highly affordable. This is the oldest framework of marketing management
that provides guidance to sellers. Here this concept are focusing on improving the production and
distribution efficiently.
Selling concept: the frame of selling is holding a idea that buyers will not purchase
enough of the firm's goods unless it took large scale selling and high promotional efforts. The
manager of sales departments are concentrating on framing sales transaction apart then creating
long term and profitable customers relations. In general terms this concepts says that company
has aim to sell its product rather then what market wished to have.
Marketing concept: This covers the attaining organisational objective that depends on
knowing the wants and wishes of target customers and delivering the desired level of satisfaction
then competitors. Here marketing concept are taking customer first approach. It keep its focuses
on customers and provides values to routes to having sales profits (Nguyen and Simkin 2012).
This concept is customer centred also relay on sense and respond philosophy. The main thing is
in marking it is not job to search out the right buyers for framed product but to find right
appropriate product for customers.
Marketing trend:
relationship marketing: this was developed to answers directly and based on buyers
satisfactions and relation rather then level of sales are required. This is related to making short
term arrangements when two parties are transacting and have interest in offering more suitable
exchange.
Industrial marketing: this trend happens where person sell his product to other
company to resell them in market and use them later make other stuff or improve quality of the
goods. The main reason for this trend is technical revolution ( Desai.2013).
Societal marketing: the main duty of the company is to identify the wish need and
demand of target buyers and delivers satisfaction in more sufficient manner. It has relation with
corporate social responsibility cause public welfare is importance.
Overview the different market process.
The company needs to identify the needs and wants of customers also trying to satisfying
them through following a process. Every firm has its own marketing process that starts with
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research or situation analysis then framing of strategies is coming to decision that made by the
executive. After generation of idea implementation and control process will be begin.
Marketing process:
Situation analysis: it includes examine and identification of current and future customer
tastes and satisfying them. Every venture should know the environment if market and find out
the ways of fulfilling the unique needs of the customers. The manager of Mark ans Spencer
needs to look after the preferences of target market before launching the product. To know the
nature of market and factor who will make impact on product manager should do PEST and
SWOT for the company.
strategies of marketing: after identify opportunities planning will be developed.
Segmentation: needs to be done in according to market research where manager divides
their market as customers preferences and financial conditions (Jones and Rowley 2011).
Targeting: here in this step the manager will choose the segment market that suits to his
business product it is called targeting now the manager should only concentrate on selected
customers whom preference are same. Mark and Spencer manager needs to complete the wishes
of his target universe.
Positioning: it is refer to those process through which manager will place his product in
selected market. This is important for the firm as this also refers to the perception of the product
in customer's mind and it needs to meet with the real goods.
Marketing mix decision: here all tactical decision are made up. It includes the four elements as:
Product: here what the company sell will be framed. A product will be defined with
physical attributes and uniqueness which creates difference in goods from competitors.
Price: at what cost the product will be sold. Here manager compare the value of the
product with competitors and made suitable price for particular product.
Place: where the goods and services will be sold. now manager should concentrate on
target market. Place can be any where in globe (Perreault 2010).
Promotion: in this part manager took those tools with the help of that they are able to
give name and creates images in customers minds for the products.
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Implementation and controlling: the results of all these efforts have to examine carefully after
the launching product. The strategies that are framed out by manager are applied and took proper
control over every process.
Key responsibility of the manager of Mark ans Spencer.
Mark and Spencer is a multi national retailing company its manager are playing so many
responsibility in organisation such as:
Hiring and staffing: manager has core duty as they needs to hires people in firm when
ever they are required. He look after the vacant post that needs to be filled and accordingly he
makes plan for recruiting employees.
Training and developments: the another that they manager performs is he offered
required learning and developing session to his employee at times when they are doing some
thing out of their skills and they need to enhance quality of production and also adopts new skills
for new task.
Coordination of marketing campaigns: for promotion every company are giving its
advertisement and for that they involves in many market campaign here in promotions for the
particular product will be happens. Here manager will look afters his firm's marketing campaign
and maintains coordination with them (Brassington and Pettitt 2013).
Track firm's budget: the financial condition of the company is a major thing for starting
the new product and its production hence the manager will use his knowledge and skill to
examine financial condition of the company and framing budget for new product. Here they will
do the thing and financial adviser also allocate individual funds for each and every part of
production that helps in smooth running of the production or product development.
Planning and implication: manager also does the planning and apply it, for entire
company to achieve firm's objective in short time in sufficient manner. Effective planning is the
key for success cause it includes all those thing who are important for the company.
Monitoring the effectiveness of marketing communication: every company is using
the tool who generate and delivers the messages to demand market or customers. Manager
tracking the effectiveness of the marketing communication toll cause id there is a fault in tool
then receiver will be able to understand the massage which are announced by company.
How marketing influences and interrelates with other functional departments.
Every department is interrelated in organisation ans make influences on others too as:
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Financial and management: Every marketing plan are includes financial information
for both current and future new products. Hence the marking cab be known as supporting
management while having investment decision. Management cab be known as the set of
activities and have assistance form financial inputs that are given by the marketing but also to
other data such as actual market and expected revert to a product (Lancaster and Massingham
2010).
Production and operation department: marketing will provides the helps to these
departments in finding the types and number of goods to be arranged. The strategies of
marketing are trying to combine the results of influencing the wants of the product in markets in
accordance with the time and level.
Resource and development: the marketing will helps this department all by the idea of
the new arrival to its applications. Market research helps in examine and evaluate that which
goods would be more proficient to be in market place and have ability to introduce in demand for
sale.
Sales: the units of sales are having sound relationship with buyers and marketing. This
marking is helping sales to grab more profit in effective manner (Malhotra, Birks and Wills
2013). It brews the relation of seller and buyer.
Human resource: marketing are needs to work with human resources department to
ensures that sound skills and knowledge are placed in proper way. They also helps them in
meeting production to its targets. And creates able team in HR departments.
Importance of marketing role in context of Mark and Spencer
The success of business are relay in marketing. Most of business are depend on its
marking channels. This is a process by which product will be delivers to end user.
Spreading the information: the product will be a major thing for every organisation as
the goods has those elements which are valuable for customers. Marketing is used to make
engage the customers in product awareness function. By proper marking buyer will be able to
familiarize with the new product.
Higher sales: once the goods has launched in market where customers are knowing as
the kind of the market then sales must be higher. Quality high products are produced make
communication in between organisation and consumers is helping in enhancing the sales for the
particular product and gives benefits to firm (Lamb, Hair and McDaniel 2011).
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Improving and maintaining the sound relationship: marketing provides its assistance
in order to creating awareness at time of company offers quality goods hence it automatically
builds reputation for the form and product too. Quality of the goods are the main thing in
marketing. Super level of communication established the relation between clients and enterprise
and they contributes in making reputation for the product.
Sound competition: the marketing also make the conditions in the market for sound
competition with other organisations. It helps in setting well defines costs to its new and and
current products that customers and competitors in the market condition will access it and
creating health competition.
Importance of having Effective interrelationships between different functional departments.
When company's departments has sound connection with each other they significant to
organisation in working. The importance of communication is departments becomes more
evidence for the firm. Some of the significant are :
Trust: sound communication in departments creates trust with in organisation. When
departments are trusting on each other they are more effective to their work. It also helps in
enhancing the productivity (Wirtz 2012).
Customer services: when the communication are poor in between departments the
company's customers services will be suffers. Hence it is important to have sound
communication in organisation's all departments. To retain customers is company needs to
maintain high level of customer services.
Efficiency: the proper exchange of information between departments are helps in
providing the the sales project with its objectives. Like is the production department are not
knowing the increase of sales and no production will be there this will creates the problems in
organisation.
Conflict: sound communication helps in reducing conflicts in organisation.
How organisation are using various elements of marketing mix P7.
The marketing mix is a strategic marketing tool for for every company traditionally it
has 4Ps as product price place and promotion but in current condition there are some extensions
are shown and hence it added 3 more Ps of marketing as people process and physical evidence it
helps managers in entire process of launching product to deliver them to end user. Hence the
manager of Mark & Spencer are taking this marketing mix process in order to serve market and
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introduce his product and services into target area. This 7Ps modal helps company to set
objective. Now the manager of Mark ans Spencer are suppose to launches his product in market
hence they are using this tool in marketing planning process As:
(Source: extended Ps of marketing mix 2017)
Product: This is the very first thing that customer will focuses on as it should be fit with the
taste of buyer. A product should be what the buyer are expecting for final goods. A product is the
thing on that customers can relay and it also helps company to build its brand image by giving
quality product to target customers. Hence it is necessary for manager of Mark and Spencer to
launched his goods in a sufficient way that are matched with expectations of customers
(Lehmann and et. Al, 2016).
Place:Company should be focused on giving market to his product cause if the thing are not in
coverage area of the customer then how they will get his product in market it will promote loss
of the firm. So it is necessary to give proper showcase to final goods that are available for buyers
or they are able to purchase it easily form their nearest shop.
Price: Customers have tendency to get full value of his money they feel the cost of his hard
work. The company needs to know the actual wish of the buyer cause they are not always
looking for the low rated or cheapest quality or cost products but they will happily accept to give
higher cost only on those products who are most suitable and works well for them.
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Illustration 1: Extended marketing mix

Promotion: this term refers to those activities who are able to make image for product and
company in the mind of customers and made them more loyal for firm it includes the some
essential communication tools as advertisement, PR, personal selling, social media and sales
promotions the manager of company are using these channels as they wished to launched his
product in market and creates awareness among target and general customers for their product
(Gertner 2011).
People: in company qualified persons are more needed to grow rich hence firm are relays on
people who are runs the organisation from front line to sales staff to managing director. Having
right and suitable person in operations are essential cause they are much important part of the
business offering as the goods and services. These peoples aid to company in order to achieve
the objective of the firm. As Mark and Spencer is retailer company who are offering clothes and
foods product they should have those person who are able, capable and have knowledge to make
contacts with their customer and also make impact on his mind by providing services.
Process: This refers to company's those departments who are accountable for distribution and
delivery of the product to appropriate customers. The services are done by these persons with
present customers after it customers are paying according to how the services and product will
delivers (Fırat 2013).
Physical evidence: Most of all products and services have its physical evidence like Mark and
Spencer are offering clothes and foods so they are tangible customer can check this stuff by their
hand. This means that where the product ans services are delivered from this is majorly relates
with the retailers who have their outlets in markets and operates. This is the prominent attributes
that helps manager to distinguish the product or services form its customers.
Hence, Mark and Spencer company's managers are considered these elements of marketing mix
with its extended pints which helps them to frame planning in order to attain the objective.
Develop and evaluate marketing plan
Marketing plan is a proper written document of business for the purpose of explaining
current position of market and its strategy are covered in plan.
Executive summery:
sound marketing begins with a well and proper defined information in marketing
strategy. Good plans of the company assists them to explain the vision, mission and objective. In
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this phase of the report the entire market plan coming into consideration and it also covers so
many pointers in one parts.
Overview of Company:
The firm Mark and Spencer is a retailing one who are dealing in food and clothing
products in UK market founded in 1884 and headquartered in London. They have revenue
approx. 10,622.0 million with 84,939 numbers of employees. They are doing operations in
chains as currently company has approx. 979 stores across the UK in which 615 are those who
are serving food products.
Background and development:
Manager of Mark and Spencer are face good demand in market and they wished to
enhance it in entire year.
Situational Analysis:
This term refers to a set of methods that managers are using in order to analyse an
organisation' internal and external condition to know and understand the capacity ability
customers and business environment. Methods those are majorly used in situation analysis are
named as SWOT, PORTER'S five force analysis.
Internal analysis:
Here the company are assessing its internal environment such as employees, customers,
management and investors. They examine the staff member whether they are working in
according to firm's needs or not if they are not working in perfect manner manager will give
them proper training to enhance their skills cause employee are the major part every organisation
( Fazlollahtabar and et. Al, 2012.). Company also take care of its investors as they paying profit
on time and customer's preference cause they are the main reason for firm's running. Hence
manager of Mark ans Spencer will set up those methods by they can assess the internal factor
which affect their efficiency like SWOT in which they are looking out the target market, new
market opportunity their rivals and strong product and services that are prefect to launched in
market. Other core things as:
financial structure: Manager will look after the business's financial conditions. Cause if
funds are not enough then how they will develop its new project. If the techniques are not goods
in financial transition then customer found delay in paying money (Durmaz 2011).
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Innovations: manager of Mark and Spencer should concern with the innovations and
they needs to pay attention to customer's preference and new arrivals in market. Cause every
time market are facing shifting in taste of the buyers. As they are clothing and foods item
company they needs to be updated in it cause if the preference are changed then entire
production system will be harmed with other departments.
External analysis:
In this phase Manager will assess the external environment like if they are suppose to
launched his product in market then the political and legal conditions may affect them to rescue
it managers get are idea of the market and frame his product accordingly as it will not harm any
cultural valuers nor affected by any environment. Some core things are:
customers relationship: Manager are looking out to framing the sound relationship with
customer so the buyers will be attracted to them and purchase his product. Cause it is a foods
item offering company they creates direct relation with customers ( Brassington and Pettitt
2013).
Government: Some how every time policies of government make impact on company or
affects its selling procedure. As Mark and Spencer are offering foods product but government are
interfacing in it as they are checking the quality and so many things hence this is important for
the Mark and Spencer to make quality goods as they will not make bad impact health of society.
Objectives: As a manager of Mark and Spencer the objective is to maximise the sales and
getting higher profit in market in which the product is launched.
Strategy: To attain desired objective company are making various plans that they will took use
for accomplish the goal and facilitates company to run smoothly.
Budget: This is a financial plan for definite time generally for a years. It involves sale value and
revenues, costs and quantity of resources and company's expenses, cash flow and liabilities.
Marketing budget
Particulars 1st year 2nd year 3rd year
Initial fund 20000 2500 4800
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